1.Set aside more time for finance process innovation Few finance functions plan for innovation and process improvement or set aside funding, time and resources. 11% of finance functions never discuss innovation and a further 54% say they would “if only they could spare the time”. Given this data, it is perhaps not surprising that only 12% … Continued
Around 70% of CFOs say that there forecasting process is “respected”, “inclusive” and “strategically aligned”, but only 40% say that the outcome is “insightful”, i.e. reveals unexpected insights and pathways to better performance. Despite the huge effort expended in the forecasting process it seems that it often fails to live up to expectations. So, the obvious question … Continued
After years of doubt and prevarication CFOs have finally accepted the inevitability of moving core financial processes to the cloud. After all, the cloud holds such promise…doesn’t it? But recent FSN research, “The Future of Planning, Budgeting and Forecasting” exposes the unpalatable truth that few organisations are fully benefiting from the cloud……..and that’s because they … Continued
Budgeting, planning and forecasting is a collaborative exercise, especially in a matrix’d management structure that requires a consensus approach. In broad terms, the more participants in the process, the more diverse the functional areas from which they are drawn and the closer the individuals are to the sharp end of the business, the more likely … Continued